Global solar energy solutions provider Photon Energy NV announces that two of its Australian PV projects under development with a planned combined installed capacity of 34 MWp are expected to be fully permitted and ready-to-build by mid-2017. Photon Energy intends to finance the construction of the Leeton and Environa plants with a total investment volume of AUD 48.3 million (CZK 915 million, PLN 151 million) from the proceeds of a public offering of CZK 1,050 million (AUD 55.4 million, PLN 173 million) worth of bonds in the Czech Republic. Photon Energy’s innovative 7-year bond with a 6% annual interest rate and monthly coupon payments allows Czech investors to benefit from the expansion of the company’s power plant portfolio in Australia while the bond’s listing will provide investors with daily liquidity.
Since entering the Australian market in 2011, Photon Energy has been mainly focused on commercial and off-grid PV installations. As utility-scale PV plants were approaching economic viability, in 2014 Photon Energy commenced a broad development effort on which the company is for the first time releasing specific details. Following Photon Energy’s policy to only report well-advanced projects, the company is in a position to announce that two of its projects under development with a combined installed capacity of 34 MWp are expected to be fully permitted and ready-to-build by the end of 2017Q2. Photon Energy’s announced project pipeline consists of a 20 MWp PV plant in Leeton and a 14 MWp plant in Environa, both in New South Wales. The total annual electricity production of both plants is projected to exceed 55 GWh, which will cover the consumption of 9,507 average households and avoid 49,770 tons of CO₂ emissions per year. The total investment is projected at AUD 48.3 million (CZK 915 million, PLN 151 million) and Photon Energy expects a project return above 8% over the plants’ operating lives.
"The in-house developed projects in Leeton and Environa will - once operational – firmly establish Photon Energy as a leading player in the fast-developing Australian market and their progress provides us with a lot of confidence about our entire project pipeline Down Under. We are looking forward to leveraging our utility-scale know-how from Europe and our local Australian track record into high quality PV assets to be added to our proprietary portfolio", explains Michael Gartner, MD of Photon Energy Australia
“Adding power plants in Australia to our existing 26 MWp portfolio in Europe will even out the seasonality in production and further strengthen our recurring revenue base from the sale of electricity”, says Photon Energy CEO Georg Hotar.
“The progress in Leeton and Environa announced today will provide potential investors in our bonds with additional comfort that we will be able to deploy the issue proceeds into value-enhancing assets on the world’s sunniest continent”, explains Michael Gartner, MD of Photon Energy Australia.
“Australia was the 8th largest PV market worldwide in 2015 and as PV investment costs continue to decline we are observing a growing number of solar industry players moving into the market, where we have a five-year head start. We are fully focussed on converting our pole position into high quality PV assets Down Under”, concluded Photon Energy CEO Georg Hotar.
Osoby reprezentujące spółkę:
Georg Hotar - Director
Michael Gartner - Director